Custom Duty
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Customs Broker License Suspension Set Aside as SCN Breaches 90-Day CBLR Deadline
WAPs with MIMO Without LTE Get Customs Duty Exemption: CESTAT Chennai
India Extends Anti-Dumping Duty on Aniline Imports from China
CBIC notifies conditional Import duty exemption on polo horse imports
Jewellery worn by passenger falls within ambit of personal effects hence detention set aside
Cancelled Invoice Not Dutiable for Imports as Additional Consideration: CESTAT Delhi
Import of goods based on fraudulently obtained IEC are liable for confiscation
Charge of violation of regulation against customs broker cannot sustain post relinquishment of goods by importer
Penalty on CHA for Undervaluation Unsustainable Without Involvement Proof
No Proof of Smuggling Knowledge: CESTAT Quashes Transporter’s Confiscation & Penalty
Customs Section 108 Statements Not Valid Evidence Without proper Examination
Declared value cannot be enhanced on the basis of DRI alert
CESTAT Upholds Additional Duty Refund Rejection for Missing Documents
Kerala HC directs Rapid Disposal of Seized perishable Buffalo Meat
Latest Custom Duty News
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Custom duty is an indirect tax which is applicable on goods which are imported into India and a few goods which are exported out of India. Globally, countries levy custom duties over import and export of goods for raising revenue and also for shielding their domestic companies from competitors from several other countries. Custom duty in India is imposed on almost universally all the goods which are imported into India. Export duties are imposed on few goods as provided under Second Schedule. These duties are not imposed on few items such as lifesaving drugs or equipment, food grains, fertilizers etc. Import duties are divided into basic duty, true countervailing duty, additional customs duty, protective duty, anti-dumping duty and education cess.
Customs duty in India is imposed according to the value of the goods or their weight, dimension and other various criteria as per the goods. Where the duties are based on goods value, then the custom duties are known as ad valorem duties, and where the duty is based on quantity or weight, the duties are known as specific duties.
Customs Act, 1962 empowers the government of India for levying customs duty, prohibiting import and export of goods, framing policies for exporting and importing and penalties, offences etc. All the matters which are related to custom duty comes under the CBEC (Central Board of Excise & Customs). The Central Board of Excise & Customs also formulates policies with respect to custom duty rate, smuggling prevention and administrative decisions that are related to customs formations.
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